Injection Molded Plastics Market to Surpass USD 511.7 billion, at a CAGR of 4.7% by 2031: Exclusive Report by Transparency Market Research Inc.

Injection molded plastics are in high demand due to the end-use industries' growing embrace of strong, lightweight materials.

WILMINGTON, Del., Nov. 9, 2023 /PRNewswire/ -- The global injection molded plastics market was estimated at a value of US$ 337.8 billion in 2022. It is anticipated to register a 4.7% CAGR from 2023 to 2031 and by 2031, the market is likely to attain US$ 511.7 billion by 2031.

Vendors in the global injection molded plastics market should find profitable prospects due to research and development in injection molding technologies, such as automation and 3D printing. Suppliers are introducing goods and services that are meant to be recycled. In an effort to get a larger market share for injection-molded plastics, they are also growing their footprint across a range of end-use sectors.

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Injection Molded Plastics Market Report Scope: 

Key Findings of the Market Report

• In terms of price per unit, one of the least expensive and most efficient production processes is plastic injection molding.
• It is capable of producing several components and parts.
• The price per kilogram of material for plastic resin pellets used in injection molding ranges from $1 to $5.
• Injection molding uses less manpower and is primarily automated. In the industrial industry, computer numerical control, or CNC, is frequently used to machine plastic and metal components.
• CNC machines are operated using CNC software.
• As manufacturing volume increases, injection molding's cost per item drops dramatically.
• Throughout the projection period, the injection molded plastics market value is being driven by the rise in demand for plastic product production procedures that are more cost-effective.

Market Trends for Injection Molded Plastics

• Compared to glass, polycarbonate is substantially tougher and more resilient. ABS is difficult to break because of its great impact resistance. It is both lightweight and strong. ABS is also heat-resistant and capable of high temperatures. High-density Polyethylene (HDPE) is an additional injection molding material that is very robust. Toys and plastic bottles are made with it. High strength and affordability are features of HDPE.
• The injection molded plastics market is expected to grow in the near future due to an increase in demand for strong, lightweight materials across a range of end-use industries. Utilizing lightweight materials contributes to increased fuel efficiency. It also improves the recyclability and performance of the vehicle. Plastics that are injection molded can be made to be both strong and lightweight. They are therefore perfect for a variety of uses in the automobile industry.
• Throughout the projection period, the packaging application segment is anticipated to lead the industry. The growth of the FMCG and e-commerce industries is driving up demand for packaging. Unit-dose packaging, closures, caps, and high-volume disposables are all automatedly produced using injection-molded packaging. It is also used in applications for medicine delivery and over-the-counter diagnostics.
• Food and beverage packaging uses Polyvinyl Chloride (PVC) in its softer, more pliable form. The flexible material polypropylene (PP) is used to make plastic films for labeling and packaging. While ABS is used to preserve the packaging of cosmetics and other beauty products during transit, polystyrene is frequently used to package sensitive things.

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Global Market for Injection Molded Plastics: Regional Outlook

Various reasons are propelling the growth of the injection molded plastics market in different regions. These are:

• From 2023 to 2031, Asia Pacific is expected to have the majority of the share. The growth of the FMCG and e-commerce industries is driving the regional market dynamics. In the first quarter of 2023, sales growth in the FMCG industry in Asia Pacific increased by 2.8%. The increase in the middle class population in the area is responsible for the development of the sector.
• Asia Pacific's e-commerce market is growing as a result of rising internet penetration and smartphone use. This is driving the regional injection molded plastics market statistics. E-commerce in Asia Pacific and Australasia is predicted to provide more than 45.0% of the global absolute value growth from 2020 to 2025.

Global Injection Molded Plastics Market: Key Players

Most manufacturers of injection-molded plastics are concentrating on developing sustainable products and technologies. Dow introduced two new sustainable ionomer grades, SURLYN REN and SURLYN CIR, in October 2023. These grades utilize circular and renewable feedstock.

Most businesses use certified renewable resins to satisfy clients who care about the environment. High-quality mono-PP thin-wall container packaging was first made using certified renewable polypropylene (PP) resins in September 2023 by Sabic, Taghleef, and two other in-mold labeling businesses. The following companies are well-known participants in the global injection molded plastics market:

• BASF SE
• Dow
• Huntsman International
• INEOS
• Sabic
• ExxonMobil
• LyondellBasell Industries
• DuPont

Few of key developments by the players in this market are:

Global Injection Molded Plastics Market Segmentation 

• By Raw Material
  • Polypropylene
  • ABS
  • HDPE
  • Polystyrene
  • Others
• By Application
  • Packaging
  • Consumables & Electronics
  • Automotive & Transportation
  • Building & Construction
  • Others
• By Region
  • North America
  • Europe
  • Asia Pacific
  • Middle East & Africa
  • South America

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